Skaffa math guy
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- Joined
- Dec 10, 2019
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- 9
Consider an investment of $5000 at 6% convertible quarterly. How much can be withdrawn at the end of each half-year to use up the fund exactly at the end of 10 years?
Please follow the rules of posting in this forum, as enunciated at:Consider an investment of $5000 at 6% convertible quarterly. How much can be withdrawn at the end of each half-year to use up the fund exactly at the end of 10 years?
True... I don't know how to calculate the exact amount that can be withdrawn, is there a formula for this?There are ways to do it that actually answer the question. Please add up your "withdrawal" column. Why is it less that 5000? How did we liquidate 5000 plus interest at 6% by withdrawing only 124.38 * 20 = 2488?
Do you know the equations for "annuity" payments or mortgage payments?True... I don't know how to calculate the exact amount that can be withdrawn, is there a formula for this?
Do you know the equations for "annuity" payments or mortgage payments?
Then you would need to know those "virtually". Those are vital for these problems.Not really,..
"exact"? Seriously, you're not even close...True... I don't know how to calculate the exact amount that can be withdrawn, is there a formula for this?